Auto Industry
Wednesday 6th June 2018 , 12:06 ET

Global automotive tubeless tyre market is anticipated to grow with a CAGR of 6.4% during forecast period 2017-2024

The major drivers of the global automotive tubeless tyre market are increase in demand of better performance vehicles, growing production and sales of automobiles, upsurge in disposable income, and strict government rules and regulation globally.

The major opportunities of the market are technological advancements in automotive tubeless tyre, and upsurge in life span of vehicles. In addition, the major restraining factors of the market are varying prices of raw material and commercialization of air less tire.

Furthermore, upsurge in the disposable income owing to high economic growth rate has also promoted and thereby creating a positive impact on passenger car and two-wheeler sales.